As before, all that’s been done in euro land is highly deflationary. No new euro will be spent by any govt as a result of the latest goings ons. In fact, it’s more austerity. And the ECB continues to do … Continue reading →

The UK conquest of Ireland began in 1169. It’s time to finish the job. All they have to do is offer the following: Ireland converts all its public debt to sterling. The UK Treasury takes over the responsibility for all … Continue reading →

On Sun, Nov 28, 2010 at 7:24 PM, wrote: I’ve tried to think of a happy ending here and there simply isn’t one. That’s like thinking for the endgame of the US if you believe the federal budget needs to … Continue reading →

She’s as much a part of the problem as any of them. Also, she continues to support taxing banks for FDIC losses, which works counter to Fed rate setting policy. Across the board taxes on banks hike rates charged to … Continue reading →

Review: Financially, the euro zone member nations have put themselves in the position of the US States. Their spending is revenue constrained. They must tax or borrow to fund their spending. The ECB is in the position of the Fed. … Continue reading →

Doesn’t matter, though most everyone thinks it does. What matter is what currency a nation saves in, not the numeraire for transactions. So good this happened, so everyone can get past it and stop worrying about it. China, Russia quit … Continue reading →

Inflation is a political problem, especially in China, where it can mean regime change. Inflation itself is not so much an economic problem- it doesn’t hurt growth and employment. But fighting inflation can very much hurt growth and employment. The … Continue reading →